Retail in Portugal - Coronavirus (COVID-19) Country Impact

Retail in Portugal - Coronavirus (COVID-19) Country Impact

  • May 2020 •
  • 16 pages •
  • Report ID: 5952160 •
  • Format: PDF
Retail in Portugal - Coronavirus (COVID-19) Country Impact

Summary
The Coronavirus (COVID-19) country report analyses how the pandemic will impact retail spend in Portugal.

Coronavirus is forecast to take €3.7bn out of Portugal retail spend in 2020, on the back of various stringent lockdown measures being adopted by the Portuguese government to curb the spread of the virus combined with significantly dampened consumer appetite to spend on non-essentials.

The government started to ease lockdown measures on 3 May 2020, however, larger stores and shopping malls are not due to fully open until June so we estimate the normalcy in buying patterns will not return until late 2020.

Scope
- The extended lockdown period has posed a severe blow to the retail market with sales in 2020 forecast to fall 3.9% on 2019 to €51.2bn
- We expect retailers will resort to heavy discounting and promotions to try and offset a poor Q1 and Q2 and reduce their reliance on tourism.

Reasons to Buy
- Use our revised market forecasts out to 2024 to understand how the Portugese retail market will perform.
- Use our in-depth analysis to review how key retailers have responded to COVID-19.
- Use our data on key consumer shopping and lifestyle habits to see how the population have responded to the impact of COVID-19.
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